US EditionInvestigation Finds 890 Nazi-Linked Accounts at Credit Suisse
Senate probe uncovers 890 Nazi-linked accounts at Credit Suisse, including wartime groups and SS ties, sparking debate over reopening a 1999 settlement.
- On February 3, the Senate Judiciary Committee will hold a hearing on banks' WWII-era conduct, with two high-level UBS executives and independent ombudsperson Neil Barofsky scheduled to testify.
- Following an expanded archive review, investigators reported 890 Credit Suisse accounts with potential Nazi links and a dispute over 1990s-era attorney communications relevant to reopening the 1999 global settlement.
- Grassley said newly uncovered records show the SS's economic arm held an account at Credit Suisse and reveal ratlines to Argentina along with accounts tied to the German Foreign Office, a German arms manufacturing company, and the German Red Cross.
- UBS has asked Judge Edward R. Korman to clarify the 1999 settlement, citing fewer than 150 disputed Credit Suisse documents due to litigation threats, as the bank's U.S. national bank charter application progresses, Karofsky said.
- At Tuesday's hearing, aides say the investigation is set to conclude by early summer with a final report expected at the end of 2026, and Grassley plans to call for a central repository for materials.
64 Articles
64 Articles
An investigation into the role of banks in facilitating the Holocaust identified 890 accounts that belonged to Nazis, shedding new light on Switzerland's dark past and its financial support for the Third Reich.
An internal investigation at Credit Suisse has uncovered 890 accounts allegedly linked to Nazism. A US Senate hearing will now examine whether Swiss banks withheld billions from Holocaust victims.
The US Senate Judiciary Committee conducted a tough questioning of UBS managers on Tuesday, accused of withholding key documents on the concealment by Credit Suisse of Jewish property stolen by the Nazis, where the bank evokes the fear of legal proceedings that it considers illegitimate.
The former Swiss banking giant is accused of having held previously unknown accounts with possible links to Nazi Germany. UBS must now answer for the allegations made against Credit Suisse.
Hundreds of Nazi-Linked Accounts Connected to Bank
Investigations by Credit Suisse have led to the discovery of hundreds of bank accounts connected to Nazis, Senator Chuck Grassley (R-IA) announced. According to reports, 890 accounts have been discovered. Grassley said in his opening statement to the Senate Judiciary Committee that Credit Suisse “didn’t review and investigate all relevant records regarding its Nazi past and applied excessive scope restrictions to its review.” Some of the account…
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